ImportError: dynamic module does not define init function (initbpy)
I also ran into this problem. I think Python3.x is needed or see bullet points below for more information.

Failed: python -c "import bpy; print('hello');"

Worked: python3 -c "import bpy; print('hello');"


"get Python3.x-framework from Python.org and install it."
"The Python version requirements are the same with building a regular blender binary (if Blender us using Python3.5 then there is NO WAY to use another version - 2.7/3.2/3.4 will all fail)."


Source: https://wiki.blender.org/index.php/User%3aIdeasman42/BlenderAsPyModule